PerfectData to Drop Some Products, Buy Back Shares

PerfectData Corp., a Simi Valley marketer of computer and office-care products, said it will discontinue certain product lines as part of a restructuring aimed at boosting profits.

The company also said its board has approved the purchase of 500,000 common shares of its stock, or about 14% of the outstanding shares. "The board considers the stock undervalued at these levels," said Chief Executive Officer Joseph Mazin.